Norwegian SWF dumps €705m General Dynamics stock in new blacklisting
NBIM announces €1bn of exclusions from its investment universe, in latest batch of companies falling foul of the GPFG’s ethical guidelines
Swiss pension fund associations push members to join data platforms
The drive comes as the country attempts to build a pensions dashboard
AllianzGI’s impact private credit strategy reaches €560m at first close
Investors include Allianz, APG Asset Management, the European Investment Fund (EIF), and La France Mutualiste
AXA IM Alts snaps up European private assets firm CAPZA
Acquisition sees AXA IM Alts enter traditional private equity sector and expand its global debt platform into mid-market direct lending
Scheme of Italian car maker rejigs investment strategy
Fondo Pensione Quadri e Capi FIAT has adopted new benchmarks for its investments in equities and bonds
No VAT for Dutch DB funds if benefits depend on returns, rules ECJ
The European Court of Justice referred the case back to a lower Dutch court
Major investors urge companies to tackle nature-related inaction
Swedbank Robur Fonder AB, BVK, P+ and Velliv are among the 26 institutions signing a statement issued by the World Benchmarking Alliance
Government consults on UK pension investment review
The first phase of pension review aims to boost investment, increase pension pots and tackle waste in the pension system
LGPS Central sees assets under management grow to £29.9bn
the pool claims to date it has saved partner funds £89m
UK regulator tells schemes to ‘act now’ on pensions dashboards
TPR said it will take action against schemes that do not comply with its expectations
AFM president urges Dutch funds to base ESG policies on member preferences
Currently, Dutch pension schemes are not required to ask their members about their sustainability preferences
Fiduciary managers evolve capabilities to meet changing needs of UK DB schemes
While more large schemes are now adopting fiduciary management, the market remains dominated by smaller schemes, says IC Select survey
Swiss pension funds bypass strategies to boost IG bonds allocations
Bonds are losing appeal for Swiss pension schemes compared to short-term money market investments
IIGCC finalises materiality-based Scope 3 guidance for investors
Guidance recommends investors approach scope 3 with materiality and transparency in mind, and be cautious about aggregation
People moves: Border to Coast appoints new responsible investment head
Tim Manuel joins Border to Coast from Aon, where he worked for the past 18 years
PKSF invests CHF2bn in sustainable funds, appointing manager trio
Swisscanto, Lombard Odier Investment Management and UBS Asset Management were awarded the mandates
Danish FSA eyes volatility of unlisted returns for market-rate pensions
Value of alternatives portfolios increased by 4% in 2023, but dipped in allocation terms from the year before, watchdog’s figures show
Coats Group scheme completes £1.3bn buy-in deal with PIC
The deal covers 18,042 scheme members, as the plan sponsor makes upfront cash contribution of £70m to the scheme and a further £30m loan
VBL warns of financial impact of severance payments in second pillar reform
Severance packages would have to be additionally financed from contributions intended to finance pension benefits, says Germany’s supplementary pension provider
Cambridge Associates expands alternative investment services
This will be Cambridge Associates’ first location in Switzerland
Swiss unions slam decision to hold minimum interest rate on pension savings at 1.25%
Swiss Federation of Trade Unions, SGB USS and Union Travail.Suisse call for higher minimum interest rate
Prosecutor probes 10 counts of corruption in Alecta/Heimstaden Bostad case
Swedish pensions giant says it has not yet been part of the prosecutor’s corruption investigation, or received information about it
Publica’s CIO to join consultancy c-alm
Stefan Beiner leaves Publica after 16 years to move to c-alm as a partner
Denmark’s PKA quits Net-Zero Asset Owner Alliance
Pension fund manager says it decided to focus on IIGCC instead, ‘maximising the impact of our resources and efforts’ on climate and biodiversity
National Grid Pension Scheme outsources executive services to LCP
The appointment comes after the scheme’s CEO Chris Hogg announced he was stepping down this summer
German ministry proposes law for Spezialfonds’ unlimited VC investments
An unlimited amount of investments would be allowed in commercial partnerships or in all types of other funds such as ELTIFs
Investors target banks over deforestation, policymakers over AMR
Investors have formulated asks of banks and policymakers in initiatives seeking to drive progress on deforestation and antimicrobial resistance
IPE Top 1000: European pension assets rebound to a new high
Top funds’ equity and bond allocations up as alternatives share falls
Aviva adds venture capital capability to rebranded private markets business
Latest move comes as Aviva Investors continues to expand its private markets offering to meet evolving demands of investors
Co-investment fund to give pension schemes route to invest in UK growth
The fund launches with £150m of capital in Q1 2025, aiming to direct up to £1bn of pension investment
AP4 to integrate Scope 3 emissions into investment decisions
The fund is tackling the controversial area as part of its commitment to halve the emissions of its investments by the end of the decade
Swiss occupational pension experts reject reform ahead of referendum
Proposed changes, if approved in the upcoming referendum, will make the secondpillar pension system ‘even more complex’, says IZV
Smart Pension, NatWest Cushon and Moneybox join Dashboard Operators Coalition
The trio takes the number of coalition members to 10
PNO Media appoints Van Lanschot Kempen as small cap equity manager
The Dutch multi-sector scheme had been disappointed by the performance of the previous manager of its European small cap equity portfolio
Investors encouraged to push proxy advisers on climate issues
Investor group statement comes a year after the group urged the Institutional Shareholder Services (ISS) to step up on climate proxy voting advice.
Swiss pension funds urged to be proactive amid interest rate changes
WTW announces results of latest study of coverage ratios of pension obligations on balance sheets of top Swiss companies
The tug-of-war continues over the EU’s green taxonomy
ESMA wants the framework to be a reference for all sustainable finance regulation, but insurers and government advisers are fighting to pare it down
Standard Life offers lifeline to scammed pension savers
Dalriada Trustees have appointed Standard Life as ‘safe haven’ provider to support defrauded pension savers
Over half of FTSE350 DB pension schemes to be fully funded on buyout basis in the next three years
Around 35% of the schemes are estimated to be fully funded on buyout basis at 31 May 2024, representing £175bn in liability values
People moves: Hymans Robertson names new head of pensions
M&G, Hymans Robertson, Legal & General, Impax asset Management, Nedlloyd Fund
AP3 leads Swedish buffer fund first-half returns, despite Thames Water hit
As Stockholm buffer funds await decision on merger, AP3’s 7.1% January-to-June return beats AP1, AP2 and AP4
ATP’s first-half return held back by gearing cost, bond yields
Describes return as “expected and generally acceptable in view of market developments”
No losers from Dutch pension reform, employers union finds
Almost everyone, and especially younger workers, will benefit from the Dutch switch to defined contribution pensions, according to AWVN’s analysis
Endgame decisions expected by most schemes within next five years
Survey of 100 trustees found that almost all schemes were beginning preparations for entering endgame
Robeco launches three forward-looking climate indices
Asset manager aims to respond to investor appetite for ‘increasingly seeking sophisticated climate indices’
Swedish government revamps pensions agency board
Governance line-up overhaul for Pensionsmyndigheten, as focus shifts towards bolstering control function and information sharing
ATP defends risk-parity strategy via analysis of five investment models
Denmark’s huge statutory pension fund says other standard pension strategies may suit other products - but not ATP’s dual-aim guaranteed product
Fondaereo’s cross-border project could shake up landscape as EU reviews IORP II
IORP II directive has ‘complicated the regulatory landscape, says CBBA’s Francesco Briganti
Asset managers split over FCA’s unbundling rules, study shows
Asset management market is split between a core of potential early adopters, a large ‘wait and see’ group and an entrenched group of sceptics
ACCESS Pool issues senior secured direct lending mandates
The initial allocations will be around £200m for the European mandate and £150m for the US mandate
